Ripple Price Forecast: XRP edges up amid whale net outflows as selling pressure eases

• Improving risk appetite and a wider crypto market rebound lift XRP towards $1.30.
• Immediate selling pressure could ease as cumulative whale net outflows across several exchanges jump to 696 million XRP.
• Strengthening momentum indicators support XRP’s prospects for a lasting recovery.

A broader rebound in the crypto market is helping Ripple (XRP) inch higher near $1.30 on Wednesday. The advance coincides with the United States (US) midterm elections, where the Democratic Party has secured victory in the Senate and is heading towards control of Congress.

Holding above $78,000, Bitcoin (BTC) is showing signs that its recovery could persist after the Binance hack triggered a sell-off to a six-week low near $76,000.

Although the near-term path of least resistance appears to be upwards, XRP is not yet out of danger. Its price needs to reclaim key structural levels, including major moving averages.

Can rising whale net outflows ease selling pressure?

Withdrawals tracked through cumulative whale net outflows across several cryptocurrency exchanges reached 696 million XRP as of Wednesday. That compares with 399 million XRP on 28 October, marking a 74.5% rise over the last seven days.

If exchange outflows persist, XRP reserves and the supply readily available for spot sales can shrink, potentially reducing selling pressure.

CryptoQuant data also show that Binance’s XRP Whale vs Retail Spread climbed to 98.4% on Tuesday, the highest level since 15 October 2024. By comparison, the reading across all centralised exchanges stood at 65.1%.

These measures alone, however, do not establish a strong and lasting tailwind for XRP’s recovery over the coming sessions. They need to be assessed alongside key technical indicators and patterns in retail and institutional demand.

Technical analysis: Can XRP bulls strengthen their hold?

Despite trading above $1.29, XRP retains a bearish near-term bias below a cluster of Exponential Moving Averages (EMAs) and the SuperTrend line. Around $1.30, the Bollinger Bands’ middle boundary sits marginally above the pair, indicating an important ceiling close to the current price. Further overhead, the 50-day, 100-day and 200-day EMAs stand at $1.34, $1.32 and $1.37, respectively, reinforcing the view that the market is still in a corrective phase.

The momentum picture remains mixed. While the Relative Strength Index (RSI) is near 46, Moving Average Convergence Divergence (MACD) has edged into positive territory, signalling improving but still fragile upward pressure.

The first hurdle is the Bollinger middle band near $1.30, ahead of the 100-day EMA at $1.32 and the 50-day EMA at $1.34. Should XRP register a daily close above these levels, the route would open towards the Bollinger upper band at $1.36, followed by the 200-day EMA at $1.37. A more formidable obstacle to a sustained recovery is the SuperTrend line near $1.40. Conversely, the Bollinger lower band around $1.23 provides the next significant support zone. A break beneath it would likely revive bearish momentum, leaving the price vulnerable to deeper losses in the days ahead.

(The technical analysis of this story was written with the help of an AI tool. Know more.)